Silver Rate Today in Rewari

Indian households view gold investment as a way of protecting their wealth. From traditional times, gold has been seen as a status symbol and is popularly known for its jewellery and other trinkets. Due to its high demand and limited supply, this metal is sold at a premium price.

Rewari is a city in the state of Haryana. It is popular and known for its traditional metalwork. Here, gold is primarily purchased in the form of jewellery. People tend to invest in gold, as it is a relatively safer option to save money and utilise it during times of crisis. It is necessary to know the latest gold rates in Rewari if you are looking to purchase the metal.

What is the Difference between 24K and 22K Gold?

When purchasing gold, it can be difficult to decide whether to purchase 22K or 24K gold. The reason for the different prices of these two types of gold is the level of purity in them. Where 24K is the purest form of gold, 22K has a purity level of 91.67% and is mixed with other alloys. 

Here is a simple breakdown for you. If you are looking to invest in gold in the form of gold coins or bars, then you should choose 24K gold as the primary choice. Whereas, if you are looking forward to buying gold in the form of ornaments or jewellery, then 22K is a better choice.

The reason behind choosing 22K gold for jewellery or ornaments is that it is duped with other alloys, and it has better durability than pure gold. Hence, if you are looking to purchase gold for daily or frequent use, then 22K would be suitable. Whereas, if you are purchasing gold for investment purposes (gold coins or bars), then 24K is the optimum choice.

Investment Options in Gold

If you are looking to invest in gold, then you should check out various investment options. Different options available for investment in gold in Rewari are:

Gold Bars and Coins

The most common form of gold bought by investors is gold bars and coins. The primary reason is that you can buy these in the purest grade of gold. Secondly, they are easy to store and don’t need much maintenance, unlike jewellery.

Gold Mutual Fund

One of the safest modes of investing in gold is mutual funds. Since it is regulated by the Securities and Exchange Board of India (SEBI), the authenticity of the investment is guaranteed. So if you are looking for a hassle-free mode of investment, mutual funds can be an optimum choice.

Gold ETF

Exchange Traded Fund (ETF) is an investment mode where you can buy and sell gold just like you trade stocks. The best part about this investment is you don’t have to worry about securing gold in a safe location. Also, buying and selling are extremely simple as compared to purchasing physical gold.

How is the Purity of Gold Evaluated in Rewari?

The value of gold is decided by its level of purity. It is not uncommon for people to get scammed over un-pure or duplicate gold in the market. When purchasing gold, look for these identification factors, which define the purity level and authenticity of the gold.

BIS Mark

The Bureau of Indian Standards (BIS) is a government authority that is responsible to authorise and certify the authenticity and purity of gold. When the gold is verified, a BIS hallmark is placed on the piece of gold, verifying its authenticity.

Karat

The level of purity of gold is defined by karat or K. Look for the number of karats on the jewellery you are purchasing to verify. 24K is the purest form of gold and is too soft to be used for jewellery. Hence, 22K gold is used for making jewellery of the highest purity.

Jewellers Identification Mark

An identification mark of the jeweller is placed on the gold you are purchasing. This helps to ensure gold is from an authentic source. The mark can also prove to be helpful in case of disputes.

Factors that Impact Gold Rates in Rewari

Gold rates are subject to change on every trading day. Some of the major factors which influence gold rates in Rewari are:

Supply and Demand

As a rule of thumb, as the demand for any commodity increases with no change in the supply, prices are subjected to a hike. The same principle applies to gold. Since it has a limited supply, when the demand for gold increases, the rate of gold also increases.

Import Duties

There is less than 1% of gold reserves in India of the total gold available. Hence, most of the gold demands are fulfilled through imports. So if there is an alteration in import duties, a similar effect can be seen on gold rates in Rewari.

Seasonal Demand

Most people purchase gold on auspicious occasions such as festivals, weddings, birthdays, etc. During the wedding season and festivals, you can see an increase in gold rates in Rewari, which is due to the increased demand.